Image of Australia to illustrate doing business in Australia

ABOUT AUSTRALIA

Australia has a multicultural, modern economy and stable political system.
This coupled with its close proximity to the growing Asia-Pacific region
makes it an attractive destination for foreign investment.

Business in Australia, image of scales to demonstrate

LEGAL SYSTEM

We are a federated country comprising of six states and two internal territories.

LEGAL SYSTEM

We are a federated country comprising of six states and two internal territories. Foreign entrants need to consider the interplay between federal and state law, and be aware that state law often differs from state to state.

Business in Australia, image of upward trending graph to demonstrate growing industries

GROWING INDUSTRIES

In recent times Australia has capitalised on a resources boom being a major exporter of natural resources.

GROWING INDUSTRIES

In recent times Australia has capitalised on a resources boom being a major exporter of natural resources. However, with demand for resources easing and governments of the day actively encouraging innovation, we are seeing the growth of service oriented sectors, such as education, tourism and financial services. The emergence of the technology sector has gained significant traction of late.

REGULATORS

While Australia welcomes foreign investment, we have a state and federal regulatory system that is sophisticated and often requires specialist expertise and knowledge to navigate. Some of the key regulators foreign investors should be aware of are:

Business in Australia, Australian Securities and Investment Commission, ASIC logo

AUSTRALIAN SECURITIES AND INVESTMENT COMMISSION (ASIC)

ASIC is Australia’s corporate, markets and financial services regulator.

AUSTRALIAN SECURITIES AND INVESTMENT COMMISSION (ASIC)

ASIC is Australia’s corporate, markets and financial services regulator. It is responsible for administering and enforcing laws relating to companies, financial services and products. Its powers extend to registering companies (including foreign companies), granting various licences, issuing infringement notices, banning people from managing companies and granting relief from various laws.

Business in Australia, Australian Competition and Consumer Commission, ACCC Logo

Australian Competition and Consumer Commission (ACCC)

The ACCC is a consumer protection body charged with the responsibility of administering the Competition and Consumer Act 2010 (Cth).

Australian Competition and Consumer Commission (ACCC)

The ACCC is a consumer protection body charged with the responsibility of administering the Competition and Consumer Act 2010 (Cth). It promotes competition and fair trading by enforcing rules relating to anti-competitive behaviour and unfair practices, such as third line forcing and misleading or deceptive conduct. The ACCC also has the power to block a proposed merger or acquisition if it believes the proposed transaction will substantially lessen competition in any market.

Business in Australia, Australian Prudential Regulation Authority, APRA logo

Australian Prudential Regulation Authority (APRA)

APRA is the prudential regulator of the Australian financial services industry.

Australian Prudential Regulation Authority (APRA)

APRA is the prudential regulator of the Australian financial services industry. It supervises banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, private health insurance, friendly societies, and most of the superannuation industry.

Business in Australia, Australian Securities Exchange, ASX logo

Australian Securities Exchange (ASX)

ASX is Australia’s leading securities exchange with markets across a range of asset classes, including shares, options, derivatives and bonds.

Australian Securities Exchange (ASX)

ASX is Australia’s leading securities exchange with markets across a range of asset classes, including shares, options, derivatives and bonds. ASX is responsible for administering the ASX Listing Rules which regulates the conduct of listed companies, and companies seeking admission to the list.

 Business in Australia, Australian Taxation Office, ATO logo

Australian Taxation Office (ATO)

The ATO is the federal government body that administers the relevant tax legislation and is responsible for collecting all federal taxes on behalf of the government.

Australian Taxation Office (ATO)

The ATO is the federal government body that administers the relevant tax legislation and is responsible for collecting all federal taxes on behalf of the government. There are also separate bodies responsible for collecting state based taxes, such as the State Revenue Office in Victoria and the Office of State Revenue in New South Wales.

Business in Australia, Foreign Investment Review Board, FIRB logo

Foreign Investment Review Board (FIRB)

Foreign investment in Australia is regulated by the Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA Act).

Foreign Investment Review Board (FIRB)

Foreign investment in Australia is regulated by the Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA Act). This empowers the Australian Treasurer to prohibit certain investments by foreign persons where such investment is decided to be contrary to Australia’s national interest. The FIRB is an advisory board that examines proposed foreign investments in Australia and makes recommendations to the Treasurer in accordance with the FATA Act and relevant policy. ​

© Copyright 2012 - 2017 | Australian Lawyers by Norgate McLean Dolphin | All Rights Reserved

Twitter logo to access Australian Lawyers by Norgate McLean Dolphin's twitter pageLinkedIn logo to access Australian Lawyers by Norgate McLean Dolphin's LinkedIn Page